Canadian Money Forum banner
1 - 1 of 1 Posts

·
Registered
Joined
·
10 Posts
A superficial loss occurs when you dispose of a property to trigger a capital loss, but then buy more of the same property within the time limits of 30 days before and 30 days after the sale.

The superficial loss would only apply to the 100 shares purchased on Oct 7, not to the other 200. When calculating the true loss on the first 200, you would use the average ACB of only those 200.

The loss on the Oct 7 shares cannot be claimed.

Hope this helps...
This is correct. The loss resulting from the 100 share portion of the Nov. 7th sale will be disallowed and added to the ACB of the security. The reason being that the stock was purchased with 30 days before the sale of the stock. The loss on the other 200 shares will be deductible (against other capital gains only).

Phil
 
1 - 1 of 1 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top